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[nicky21] 07/6/2018 13:56

easy 10 baggar.

[bountyhunter] 07/6/2018 09:32

Legendary?! He already is!

Good luck here and points taken but Art + Nigeria doesn't fill me with confidence based on past experience with Oilexco + Afren etc.

Rgds + best of luck, bh

[edgein] 07/6/2018 09:29

Bounty Hunter,

Its all about timing. OIL was one of my best ever, it went from the teens in the Brenda days to over £4.00 in the post-Huntington era (I sold long before that). Art was exceptional at finding the stuff, especially appraisal drilling and OIL were killed off by the debt and the unprecedented fall in the oil price, that killed off AFR and many others too CAZA et al. With COPL its all about timing again. The market has a short memory and if ART delivers even a fraction of that plan in the presentation then this is going to be one of the highest baggers in the oil sector in a long time. If the deal goes through and they line up funding they're expected to produce from the modified rig, so no 3-4 year wait as normally associated with offshore. Plan is 6000bopd in the early stages and within about 3-5 years and 29 wells later produce 60,000bopd at peak. The market rightly or wrongly expects that this will not happen hence £8m market cap. If on the other hand they get approval from the Nigerians for the Essar deal, finance the well and get the expected results this is Oilexco mark II. The early days of OIL were exceptional and that's why I took some here. One of the smallest holdings in my porty so its not without risk as you point out, but upside if Art pulls it off is going to be legendary. First target 90mmbbls, combined appraisal targets approx 250mmbbls.

Regards,
Ed.

[nicky21] 06/6/2018 16:38

barnes4


Everything depends on how successful the first well is, could go somewhere between 6-10p if they get the targeted 6,000bopd from the first well.

[barnes4] 06/6/2018 15:16

Now stop posting on other boards please